Cohu (COHU) said late Monday it has agreed to acquire Tignis, a software provider focused on artificial intelligence-powered process control and monitoring.
The company said it expects the deal to broaden its analytics offerings, with Tignis' PAICe Monitor and PAICe Maker solutions targeting the estimated $2.6 billion semiconductor process control market.
Terms of the transaction weren't disclosed, but Cohu said they are "not material" to its financials.
The acquisition, set to close in January, will be funded via cash on hand, the company added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.